The Official Position of the Equity PayPal Withdrawal Service

Equity PayPal Withdrawal Service

Equity Bank officially states that their withdrawal service is now on point but experienced an error that led to the recent delay that caused a lot of buzz in the online world.

Spencer Okach, a Product Manager at Equity stated, “There was a problem with the a couple of transactions so the cash was reversed and the process had to start again.”

This was the reason for the huge 14 day delay in some of the October PayPal withdrawals that sparked off this discussion.

Spencer states that the issue is now fixed and members can go ahead and make their withdrawals.

This has been confirmed by recent comments on this blog where some are saying they even got their cash in 5 days. All those who were affected by the delay that started on October 29th have now received their funds. Below are the screenshots of some of these confirmations:

Received PayPal Money

Received PayPal Money on Equity Account

“Note that the withdrawals take 5-8 business days, excluding Kenyan and American holidays” said Spencer. This was in response to the question on why the withdrawal sometimes takes even 11 days. Here is a list of American Bank Holidays. Note that also Payoneer doesn’t operate on these days.

So I guess that means its all systems go on the Equity PayPal withdrawal system. My advice though to Equity is to empower their customer support stuff so that such stuff is quickly handled whenever a customer calls or tweets. That way, things will never get out of hand.

According to the Equity PayPal withdrawal website, the service will be unavailable between Friday, Nov, 15th 2013 to Monday 18th in the morning.

So, go ahead and withdraw from PayPal to Equity (from 18th) and let us know how it goes. I am looking forward to responding to your comment on this :)

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Comments

  1. James says

    Hi Walter and everyone else,

    I am having problems to use the Equity Withdrawal service. It seems difficult to get past the first step on Equity’s website where they ask for the account number. I keep getting an error the after entering my account number. In my case though, the error seems to be that Equity does not have my email address despite the fact that it should be on file since I gave it when opening my account. So, I have to go in person to have my details updated. However, while contacting the customer support desk at Equity, they actually confirmed that they are having problems with the PayPay withdrawal service.

    So, I was just writing to ask, has anyone used the Equity to PayPal withdrawal service of late? And, is it working?

    It would be a big blow if the service has stalled especially now that PayPal is no longer accepting new applicants for the Payoneer US Payment Service.

    • Walter Akolo says

      Hi James

      Sorry for the challenge you are experiencing.

      I use Equity every week and it works perfect. Once in a while it has a problem delivering the OTP (one time pin) but it gets fixed within hours.

      You may need to call the indicated customer care numbers to see how it works out.

      All the best.

  2. David M says

    Hey Walter,
    A quick question. I’ve been trying to set up my PayPal, linking it to my equity bank acc and am having a hard time. In the filling requirements are bank number and routing number of which am having difficulty.
    Please assist.
    Thank you.

    Regards,
    David.

  3. Kennedy says

    This is incredible. In fact I am happy to state that nowadays Equity PayPal withdrawals mostly take 5 business days instead of 8 business days. They are almost always on time.

    • Walter Akolo says

      Cool. That is very true Kennedy. I nowadays use this service a lot and can confirm that it is very efficient. If they reduce their days from 5-8 to 1-2, they will stomp out all the competition.

  4. Terri Wanjiku says

    I’m on Paypal and I hate the waiting 5-8 business days is insane. Especially when the weekend falls somewhere in between those days. Equity’s rates are very affordable though. How are the rates on Payoneer and how long is the waiting period there?

  5. Timothy says

    Good news but the generation Y needs to see things implemented. Let them implement and also reduce the withdrawal days and all freelancers in Kenya will go for Equity. Let them also improve their communication process. Its so traumatizing, having to wait for a long time with no one to tell you that everything will be okay. Let Equity run faster, and get all the supporters.

    • Walter Akolo says

      You are right on that one Timothy. I am sure if they reduce their days and improve the communication a huge percentage of freelancers will hop onto their system.

  6. says

    That is good news after the back and forth we had with equity last week. As for now I will stick with what I know. I can watch the situation from afar, for now.

  7. says

    Hi Walter,
    It’s good to hear that the Equity paypal service is working but for me i may still stick to my payoneer way,may be i will give them a try in future if they offer some good rates.I wish everyone success on their freelance endeavors…..thanxs a lot for this info

  8. mike says

    what about the withdrawal charges that were deducted on the earlier transactions, were they reimbursed or that’s a by-gone.

    • Walter Akolo says

      Hi Mike. I don’t believe there were any extra withdrawal charges. People withdrew, the cash delayed, then they got their whole amounts, no extra charges.

  9. Michael says

    Hey this is great news Walter, wen i first heard there where issues I had to hold back my withdrawals, I can finally go thru with it, thanks for the update

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